FINANCIAL EDUCATION

Clear numbers make better choices.

Guidance to plan a budget, understand loan cost and protect your information.

Key lessons

Separate income, essentials and goals before taking on debt.

Ask for interest, fees, insurance, security and the schedule in writing.

Never share a PIN, password, OTP or account number.

PLANNING TOOL

Enter income and essentials to see an illustrative remainder.

RESULT

Enter amounts to see a summary.

Results are calculated in your browser only.

NEXT STEP

Ask for an answer in a language you understand and keep copies of your records.

MONEY IN PLAIN LANGUAGE

These general explanations help you read documents and ask about your own agreement.

Loan principal: The loan amount itself, before adding interest and other charges.
Loan interest: The cost of using borrowed money. Ask for the rate, the period it covers and how it is calculated.
Total cost: Interest and other charges attached to a service. For a loan, also ask for the full amount to repay, including principal.
Cash flow: Money moving in and out over a period. An unpaid sale does not mean the cash has already arrived.
Collateral: An asset that may secure a loan. Failure to meet the agreement may put it at risk; read all the conditions.
Repayment term: The agreed time to repay a loan. A longer term can reduce each monthly payment while increasing total interest.

Principal + interest + other charges = the total amount to repay.

Prepare your questions and find the right guidance.